Visa Inc. (NYSE:V) Shares Sold by Lakehouse Capital Pty Ltd

Lakehouse Capital Pty Ltd trimmed its holdings in shares of Visa Inc. (NYSE:V) by 20.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,289 shares of the credit-card processor’s stock after selling 9,403 shares during the period. Visa makes up approximately 7.9% of Lakehouse Capital Pty Ltd’s investment portfolio, making the stock its 6th largest holding. Lakehouse Capital Pty Ltd’s holdings in Visa were worth $10,128,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Visa by 3.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 15,926 shares of the credit-card processor’s stock valued at $3,663,000 after buying an additional 486 shares during the period. AlphaCore Capital LLC lifted its holdings in Visa by 8.7% in the 3rd quarter. AlphaCore Capital LLC now owns 13,801 shares of the credit-card processor’s stock valued at $3,174,000 after acquiring an additional 1,106 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its position in shares of Visa by 31.8% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 13,997 shares of the credit-card processor’s stock valued at $3,220,000 after purchasing an additional 3,379 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Visa by 15.8% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 79,140 shares of the credit-card processor’s stock valued at $18,203,000 after purchasing an additional 10,798 shares in the last quarter. Finally, Joseph Group Capital Management grew its stake in shares of Visa by 7.7% in the 3rd quarter. Joseph Group Capital Management now owns 8,400 shares of the credit-card processor’s stock worth $1,932,000 after purchasing an additional 597 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on V. William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. TD Cowen started coverage on Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective for the company. Royal Bank of Canada lifted their target price on Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Wells Fargo & Company boosted their target price on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Finally, Citigroup increased their price target on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $303.76.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The disclosure for this sale can be found here. Insiders have sold a total of 34,402 shares of company stock worth $9,559,382 in the last 90 days. 0.19% of the stock is owned by insiders.

Visa Price Performance

Shares of NYSE:V opened at $275.22 on Friday. The firm has a market cap of $503.36 billion, a price-to-earnings ratio of 30.75, a P/E/G ratio of 1.89 and a beta of 0.97. Visa Inc. has a 1 year low of $225.50 and a 1 year high of $290.96. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $273.97 and a 200 day simple moving average of $273.01.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The company had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the business earned $2.09 EPS. As a group, sell-side analysts predict that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio is 23.24%.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.